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- 2. Products Financial Services Mergers and Acquisitions Asset Management Risk Management Sales and trading Internal Software
- 3. Finance $179.45 share price 52 week spread: $171.86 - $218.40 $40.8 billion revenue, $8.5 billion income (2014) 34,000 employees
- 4. Avoiding Financial Crisis Two traders credited for $4 billion profit “Betting” on collapse Shorting mortgage related securities Actions were called into question
- 5. Secret Sauce The people Mergers and acquisitions Proprietary trading/risk assessment technology
- 6. Story Sergey Aleynikov Arrested in 2009 for espionage and theft-of-trade-secrets charges Charges dropped in 2011 Re-arrested in 2012 Acquitted of charges in 2015
- 7. Interesting Facts 1 million computing hours per day for risk management calculations Lower acceptance rate than Harvard in 2010, 2011 Sidney Weinberg, janitor’s assistant to CEO
- 8. Competitors Morgan Stanley JPMorgan Merrill Lynch
- 9. Predictions Continue as financial leader Move towards open source software Focus on technology
- 10. Questions
Editor's Notes
- Investment banking firm Engages in global investment banking, investment management, securities, and other financial services for clients
- Services: Main product are financial services such as M & A, asset management, risk management Mainly for large business clients/companies Sales and trading: Give clients multiple ways to track and execute transactions securely across exchanges Internal Software: In-house applications and technology to help their financial services
- Huge company One of the largest banks in the world Offices in NY, NJ, Dallas, Salt Lake, London, Hong Kong, etc
- During crisis - "betting" on a collapse in the sub-prime market, and shorting mortgage-related securities actions were later called into questions because of the assets they let loose during the crisis
- Quit company in 08/09 to work for a competing company Arrested for stealing prop trading code and selling it to new company Charges dropped in 2011 after court ruled source code was not a "stolen good" within the meaning of the NSPA Rearrested in 2012 for two different charges Finally acquitted in 2015
- in 2010 and 2011, Goldman received 300,000 applications for full-time positions. 4% were given offers, and 9/10 accepted Sidney Weinberg, who started off as a janitor’s assistant, went on to become the CEO and led the firm for 39 years.